Financial summary or highlights/Performance of the Company
During the current year, Revenues from operation of the Company, on standalone basis, decreased by 37.31% from Rs 11,472.04 Lakhs to Rs. 7,191.35 Lakhs. The Profit after tax, for the current year decreased to Rs. 610.23 Lakhs as against the profit after tax of Rs. 966.91 Lakhs of last year (before Other Comprehensive Income). The decreases in revenue from operations are due to impact of COVID-19 during Mar/May’ 2020 and the subsequent lockdown during the month of April/May’21.
On consolidated basis, the Group has achieved revenue of Rs. 76,830.49 Lakhs as compared to Rs. 96,173.05 Lakhs previous year and its Profit after tax reduced by 66.69% to Rs. 2,520.34 Lakhs as compared to Rs. 7,565.89 Lakhs previous year (Before Other Comprehensive Income) and decreased by 66.07% to Rs. 2,582.21 Lakhs from Rs. 7,609.35 Lakhs (After Other Comprehensive Income). From April 1, 2020 onwards, the Group has opted to pay income taxes under the concessional tax regime as prescribed under Section 115BAA of the Income Tax Act, 1961. Accordingly, Current tax Liability for the year ended March 31, 2021 has been determined and recognized at the concessional rate. The impact arising from restating the deferred tax balances at the reduced rate has been recognized during the year.
Kurlon’s journey is a fine lesson in entrepreneurship. During a visit to Germany, Ramesh Pai discovered that high-end motor car seats used rubberized coconut-coir fibre manufactured from Sri Lankan base material. He knew that India was one of the largest producers of coconut in the world and so, he rightly assumed, there was a new business to be pioneered. Charged with this thought, he returned home to start his journey of discovering how best he could take advantage of the coir husk India produced. He found that coconut coir was being used only by the cottage industry to manufacture retted fabric. From here his idea took shape and become the predecessor to Kurlon – Karnataka Consumer Products Limited – was formed in 1962.
He brought in Austrian technology to extract fibre from the husk and curl it into ropes. A slew of opportunities opened up upon this craft. Rather than restrict himself to mattresses he also developed an ancillary range of products such as cushions and mats. In 2004 it ventured beyond providing just a better sleep experience and extended its product range into the home comfort segment.
The company has evolved and now manufactures mattresses in 126 different configurations. Pan-India they have partnered with a dealer network comprising more than 7000 dealers, 70 branch and stock points and 9 strategically located manufacturing facilities across Karnataka, Orissa, Madhya Pradesh, Uttaranchal and Gujarat. With state-of-the-art technology, these factors will continue to improve the level of standards in the mattress industry and serve the growing Indian population.
Behind the triumphs at Kurlon over the years, there has been a series of awards, accolades and recognition the brand has received. These awards include the acknowledgment of its stellar role from institutions like the Coir Board, Reader’s Digest, the National Safety Council and several other distinctions. For the past sixteen years Kurlon has won the Coir Board of India’s awards for Outstanding Performance in Export of Rubberized Coir Products, the Development of the Domestic Market for Rubberized Coir and the award for being consistently the country’s largest manufacturer. In 2014, the company bagged the ShreshthaSurakshaPuraskar award from the National Safety Council of India in recognition of developing and implementing highly effective management systems and procedures and achieving outstanding performance in occupational health and safety.Kurl-on’s therapeutic mattresses are scientifically developed to meet the ergonomic requirement of the human body & offer absolute comfort and rest.Buy Mattress online at best prices in India. Shop from the widest range of mattresses including Spring, Foam, Coir, Therapuetic in best quality at Kurl-on